The Effects of exogenous shocks on the semiconductors manufacturing in Korea - KIET 산업연구원 - 소통 - 공지사항

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The Effects of exogenous shocks on the semiconductors manufacturing in Korea 2003-09-30 문서 미리보기 문서 다운로드

Author : Mi-Kyung Pai(Industrial Competitiveness Division)

This paper investigates the intertemporal technical efficiency of the Semiconductors and Other Components (KSIC1) 321) industry from 1983 up until 2001, especially focusing on the pre- and post-1997 Asian financial crisis. Since the financial crisis occurred mainly due to the excess investment in HCI2), triggering IMF 3) supervision with accruing pervasive industrial structural adjustment measures. It was another type of strong exogenous market-disturbance factor in the free market system that the Korean economy was basically subjected to. Therefore, based on the proposition that an exogenous shock to an ongoing economic system affects the technical efficiency of an individual establishment, the effects of the financial crisis of 1997 on the technical efficiency of the above industry will be studied. Furthermore, the technical efficiency of the establishment by size, i.e., LEs4) and SMEs5) are also estimated intertemporally from 1983 up to 2001.